asked the Minister for Finance whether he will state if there is in force any regulation or other means by which citizens of this country may be prevented from placing money on deposit or investing it in securities outside this country, and, if not, whether it is intended in the near future to make regulations for this purpose.
Ceisteanna—Questions. Oral Answers. - External Investments.
Emergency Powers (Finance) (No. 7) Order, 1941, prohibits the transfer of funds outside the State except with the permission of the Minister for Finance, which in practice is not given when the funds are to be placed on deposit or invested in securities abroad. The order, however, specifically exempts from restriction transfers to Great Britain, Northern Ireland, and certain other countries, the currencies of which are sterling or based on sterling.
It is not proposed to vary, in the near future, the terms of the order mentioned or the principles on which it is administered.